Bob Trunzo to Retire, New TruStage CEO Named

After 18 years at the Madison, Wis.-based TruStage, formerly CUNA Mutual Group, President/CEO Bob Trunzo announced Wednesday morning he will retire from the position on Oct. 1.

After a unanimous vote from the Board of Directors, Terrance Williams, former president of protection products and services group with Allstate, will take over as president/CEO.

According to a statement, Williams will join TruStage as president/CEO-elect on June 26 and report directly to Trunzo until Trunzo retires.

Trunzo joined CUNA Mutual Group in 2005 and was appointed president/CEO in 2014 after Jeff Post retired from the position. CUNA Mutual Group recently changed its name to TruStage, an insurance and investment firm.

In a statement, Trunzo said, “It has been an honor to serve as President and CEO of TruStage during this period of transformative growth. I want to thank our employees. Their passion, hard work and dedication to making experiences easy and accessible for the people we serve has allowed us to become an agile organization with a proven track record of delivering for our customers today while designing new solutions for the future.”

Michael Valentine, chair of TruStage’s Board of Directors added, “On behalf of the entire board, I want to thank Bob for his invaluable contributions to TruStage these past 18 years. Because of Bob’s tireless commitment to the success of the company, and the leadership he’s provided as CEO since 2014, TruStage is stronger than ever. Bob is well-known and respected in the credit union space and will be missed. With Bob’s support, we were thrilled to find Terrance and are confident that Terrance is the right leader to build on Bob’s legacy and continue the company’s mission of ensuring that brighter financial futures are accessible to everyone. The succession plan announced today will help secure a seamless transition and we are excited to see the company’s continued success under Terrance’s leadership.”

Williams said, “I am thrilled to serve as TruStage’s next President and CEO and would like to thank Bob and the Board of Directors for entrusting me to lead the company as we enter this new chapter. Bob has set a strong foundation for TruStage’s growth and success, and I’m excited to continue this momentum by working toward our collective mission of making brighter financial futures accessible to all and putting the needs of our customers first.”

CUNA President/CEO Jim Nussle issued a statement concerning Trunzo’s retirement and the leadership selection of Williams.

Nussle said, “Under Bob’s leadership TruStage’s commitment to the credit union difference has never been stronger. The organization was an early contributor to Credit Union Awareness and has reaffirmed that commitment as the initiative has evolved and refined its approach. He also stood strong with credit unions all the way to the U.S. Supreme Court against bank attacks against enhanced fields-of-membership that would allow credit unions to serve more people. Bob’s support leaves our entire movement in a better place, and I couldn’t have asked for a better partner for CUNA’s work on behalf of America’s credit unions.”

He continued, “I want to congratulate and welcome Terrance and look forward to working alongside him on our mutual mission to improve the financial health of consumers and communities, especially given his extensive record of leadership, innovation, and dedication to the betterment of communities.”